When you retire(d), what do you expect your monthly/annual expenses to equate to?
Short story ... I suggest you start tracking your expenses, not to the penny, but within reason and continue to do so to determine a monthly/yearly amount. It's not that difficult to figure out what might change going forward. That's how I determined the income I'd require to retire financially independent (including what I/we would require if my wife retired early). Things changed, new career, I/we continued working beyond that minimum requirement ... more savings for me/us :encouragement:So, I am a LONG LONG LONG way from retirement ... One of the things that I've been weighing out consistently is how much passive income on a monthly/yearly basis I would need to maintain a comfortable standard of living ...
It's not where you travel, but how you travel........we don't care for hotels, so we rent cheap studios/rooms with kitchen facilities through sites such as HouseTrip & Wimdu, often in 'non-touristy' sections; we're not 'restaurant people' and prefer preparing our own meals, (which gives us exposure to local markets)........we like to amble around cities and look at neighborhoods and the exteriors of old buildings, (we avoid 'entry fees' whenever possible).......sometimes we'll buy a transit pass and ride around, getting off and on, and checking out various areas.Wow...all that travel and only $40-$50k?